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Morning Briefing: 10 Things You Should Know

NEW YORK (
TheStreet) -- U.S. stock futures were pointing to a higher open for Wall Street on Friday after a survey found manufacturing expanded in China.

European stocks were moving up while Asian shares ended Friday's session mostly higher. The Shanghai Composite Index surged 4.3% after HSBC released its preliminary China Purchasing Managers' Index for December, which rose to a 14-month high of 50.9.

Japan's Nikkei 225 index fell 0.1% to close at 9,737.5.

The economic calendar in the U.S. Friday includes the Consumer Price Index at 8:30 a.m. EST and industrial production at 9:15 a.m.

U.S. stocks on Thursday finished lower as more signs of discord in Washington over the "fiscal cliff" talks overshadowed a handful of better-than-expected economic releases.

The
Dow Jones Industrial Average fell 75 points, or 0.56%, to close at 13,171.

U.N. Ambassador Susan Rice withdrew her name as a candidate for secretary of state on Thursday amid stiff Republican opposition.

U.S. Defense Secretary Leon Panetta signed an order on Friday that would send two Patriot missile batteries and 400 American personnel to Turkey, in a move to strengthen Turkey's defenses against the threat of Syrian missiles, according to a
Reuters report.

UBS(UBS) is close to an agreement to pay more than $1 billion to resolve allegations the Swiss bank tried to rig interest-rate benchmarks -- including the London interbank offered rate -- to boost trading profits,
The Wall Street Journal reported, citing people briefed on the negotiations.